It marked the second straight month of strong numbers.
Even as analysts celebrated the Friday jobs report, many were also careful to strike a note of caution. The surveys for the jobs report were conducted in the middle of July, meaning before there was a sharp increase in cases of COVID-19 across the country driven by the highly contagious delta variant. A growing number of local governments started imposing new mask mandates and restrictions to combat the increases at the end of July, meaning their effect could be evident in the next jobs report.
There’s little evidence to suggest that the increasing cases will significantly affect the resurgent U.S. economy, in large part due to the fact that nearly half the population is fully vaccinated. At the same time though, rising cases could keep more workers at home and push companies to delay any planned hiring. “The jobs recovery is continuing, but it’s different in character to any we’ve seen before,” Nela Richardson, economist at human-resources software firm Automatic Data Processing,.
The economy has now recovered nearly 17 million jobs since May of last year, but there is still a 5.7 million shortfall compared to February 2020. Employers have been
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